Japan has become one of the largest markets in the world for cryptocurrencies. Trading in bitcoin-Japanese yen accounted for about 57.6 percent of total bitcoin trading volume, according to CryptoCompare.
Japanese authorities recognized bitcoin as legal tender last April and require cryptocurrency exchanges to register with the government. Sixteen exchanges have done so, March 7, reported by FuninUSA.
Hong Kong-based Binance was operating in Japan through the internet without a license for a virtual currency exchange. Recently, Japans Financial Services Agency issued a warning Friday to major cryptocurrency exchange Binance for operating without registration in the country.
Binance CEO Changpeng Zhao confirmed receipt of the warning, tweeting: "Our lawyers called JFSA immediately, and will find a solution. Reported in FuninUSA, Zhao has once expressed that the company tried to get a license in Japan but has decided to remove its staff from its office.
Bitcoin traded 3.4 percent lower near $8,417, according to CoinDesk at 10:20 a.m. ET. As you know, this price is nearly half the price when bitcoin hit its highest price last year.
With the stricter regulation of cryptocurrency, what do you think is the trend of bitcoin price? Also, whats the possibility that bitcoin would become a prevalent method of payment?
For me not yet reach its high peak but I keep in trust that soon will reach the high peak so that all bitcoiners will going to be happy Japanese authorities recognized bitcoin as legal tender last April and require cryptocurrency exchanges to register with the government. Sixteen exchanges have done so, March 7, reported by FuninUSA.
Hong Kong-based Binance was operating in Japan through the internet without a license for a virtual currency exchange. Recently, Japans Financial Services Agency issued a warning Friday to major cryptocurrency exchange Binance for operating without registration in the country.
Binance CEO Changpeng Zhao confirmed receipt of the warning, tweeting: "Our lawyers called JFSA immediately, and will find a solution. Reported in FuninUSA, Zhao has once expressed that the company tried to get a license in Japan but has decided to remove its staff from its office.
Bitcoin traded 3.4 percent lower near $8,417, according to CoinDesk at 10:20 a.m. ET. As you know, this price is nearly half the price when bitcoin hit its highest price last year.
With the stricter regulation of cryptocurrency, what do you think is the trend of bitcoin price? Also, whats the possibility that bitcoin would become a prevalent method of payment?
In my assumption, bitcoin has not yet reached it's peak where I believe this will be making a significant change in the crypto market. This current dip could have been some adjustment period of bitcoin and may somehow progress in the coming weeks which it usually does. Now could be the right time in holding your btc's and don't let your emotion be the source of your decision in selling it which is wrong thing to do. Patiently wait for the bullish run that almost everybody would wanted to happen.